Valor Real Estate Partners, the pan-European urban logistics platform, has acquired four urban infill properties.
The combined investment is €30 mln, taking H1 2021 deals in Paris and Lyon to €60 mln.
Ben Brunschwig, SVP, said: ‘These properties are all located in critically undersupplied infill sub-markets on the edge of Paris, and provide excellent connectivity by road enabling tenants to reach a significant proportion of the city’s population in a short space of time.’
CBRE advised on all three transactions.
In Arcueil, 2km south of Paris city centre, Valor has acquired, off market, a 3,500 m2 urban logistics warehouse which is around 90% let to Cityscoot and Lime, two fast growing e-scooter businesses.
In a second transaction, Valor has completed the purchase of two infill properties, totalling 6,300 m2 in Bezons, 10km west of Paris. The first property, totalling 2,700 m2, is currently vacant and will be entirely refurbished, whilst the second, totalling 3,600 m2 is let to packaging company BBA Emballages on a ten-year term.
In a third transaction, Valor has acquired a high-quality, vacant 5,500 m2 urban logistics warehouse in La Courneuve, 6km north of Paris, from a private investor.
